Automatic Bank Reconciliation – How it will save your company time and increase your productivity

Automatic Bank Reconciliation – How it will save your company time and increase your productivity

With Microsoft Dynamic Nav 2017 you are now able to download your bank statement from your bank website and then import it into NAV. NAV will then automatically match the bank statement entries against your Bank Ledger entries based on amount, reference and date.

So how DOES the automated bank reconciliation save you time and increase your productivity?

Bank Statement Import

The Import Bank Statement function now eliminates the need to go through your bank statement line by line to compare the transactions with entries in NAV.

Once the bank statement has been imported, NAV will automatically match the bank statement entries with NAV bank entries by amount, date or reference.

This ultimately saves a lot of time as you only need to focus on the unmatched entries.

Improved Bank Statement process

The automatic bank reconciliation also cuts down on human error and thereby improving the bank statement process. You can now delegate this task with confidence as the automated bank statement process is now simplified, ultimately saving you time and increasing your productivity.

Bank Reconciliation Statement

Any previously posted bank reconciliation statement can be reprinted, fully explaining the difference between the balance as per general ledger and bank statement, including any unpresented cheques and outstanding deposits.